Truist Financial Reaffirms Hold Rating for FTI Consulting (NYSE:FCN)

Key Points

• Truist Financial reaffirmed its Hold rating on FTI Consulting and raised its price target from $158 to $180, implying 4.52% downside from the prior close. The consensus rating remains Hold, with an average price target of $174.50.
• FTI Consulting reported quarterly EPS of $3.84, beating estimates of $2.74 by $1.10, while revenue reached $1.01 billion and increased 5.9% year over year.
• FTI shares rose to $188.51, near their 52-week high of $189.30, and institutional investors and hedge funds collectively own 99.36% of the company’s stock.

FTI Consulting (NYSE:FCN - Get Free Report)'s stock had its "hold" rating restated by research analysts at Truist Financial in a research note issued to investors on Monday, Benzinga reports. They presently have a $180.00 price objective on the business services provider's stock, up from their prior price objective of $158.00. Truist Financial's price objective would indicate a potential downside of 4.52% from the stock's previous close.

Separately, Weiss Ratings raised FTI Consulting from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, October 26th. Two investment analysts have rated the stock with a Hold rating. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $174.50.

FTI Consulting Price Performance

FCN stock traded up $5.67 during trading on Monday, reaching $188.51. The company's stock had a trading volume of 59,369 shares, compared to its average volume of 438,383. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.64. The company's fifty day moving average is $147.19 and its 200-day moving average is $159.93. FTI Consulting has a 1 year low of $129.12 and a 1 year high of $189.30. The company has a market capitalization of $5.14 billion, a P/E ratio of 23.61 and a beta of -0.16.

FTI Consulting (NYSE:FCN - Get Free Report) last announced its earnings results on Thursday, October 29th. The business services provider reported $3.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.74 by $1.10. FTI Consulting had a net margin of 5.86% and a return on equity of 18.41%. The firm had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same period in the prior year, the company earned $2.60 EPS. The business's revenue was up 5.9% compared to the same quarter last year. On average, research analysts expect that FTI Consulting will post 9.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On FTI Consulting

Several large investors have recently bought and sold shares of FCN. Integrity Alliance LLC. purchased a new position in shares of FTI Consulting during the 3rd quarter worth approximately $615,000. Vise Technologies Inc. lifted its stake in FTI Consulting by 57.6% in the 3rd quarter. Vise Technologies Inc. now owns 3,005 shares of the business services provider's stock valued at $404,000 after buying an additional 1,098 shares in the last quarter. State of Wyoming boosted its stake in shares of FTI Consulting by 4.9% during the third quarter. State of Wyoming now owns 6,109 shares of the business services provider's stock valued at $822,000 after acquiring an additional 287 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in shares of FTI Consulting by 5.8% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 27,583 shares of the business services provider's stock valued at $3,710,000 after buying an additional 1,500 shares during the last quarter. Finally, James Investment Research Inc. raised its holdings in FTI Consulting by 8.6% in the 3rd quarter. James Investment Research Inc. now owns 7,831 shares of the business services provider's stock valued at $1,053,000 after acquiring an additional 619 shares during the last quarter. Institutional investors and hedge funds own 99.36% of the company's stock.

FTI Consulting Company Profile

FTI Consulting, Inc is a global business advisory firm that helps organizations address complex financial, legal, operational and reputational challenges. The company provides independent expertise to corporations, law firms, financial institutions, government agencies and other organizations involved in major disputes, transactions, investigations, restructurings and regulatory matters.

FTI Consulting operates through several practice areas, including Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology and Strategic Communications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.